Shareholders give go-ahead for merger of BPH and PBK

Shareholders of Bank Przemyslowo-Handlowy (BPH) and Powszechny Bank Kr edytowy (PBK) have, as expected, approved a merger that will create Poland's third largest bank. PBK and BPH shares rose by 2.3% and 1.1% respectively on the Warsaw Stock Exchange (WSE) in reaction to yesterday's decision. Jozef Wencer, the current president of BPH, will become the head of the new bank, which will be known as BPH-PBK. (Gazeta Wyborcza, p. 26) M.T.K.